3/8/11 Tues pm Dow Closes at 12,214.38 up 124.35 points or 1.03%

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Post No. 910 The following is brought to you by Intellivest Securities Research, Inc. Toward the end of this Blog is a list of the Dow 30 current CEOs, a ranking of the Dow 30 components by market capitalization and Dow 30 components' SEC filings as of February 14, 2011.

The Dow Jones Industrial Average closed Tuesday at 12,214.38 up 124.35 points or 1.03% from Monday's close of 12,090.03. Of the 30 Dow Jones component companies 27 gained and 3 declined. The biggest gainer dollar-wise was IBM $162.28 +2.35 1.47% 5,385,973 NYSE and percentage wise was Bank of America BAC $14.69 +0.66 4.7% 250,013,015 NYSE. The biggest decliner dollar-wise and percentage-wise was McDonald's MCD $75.54 -0.75 0.98% 8,952,652 NYSE.

As of the open of the market Tuesday, the current divisor for the Dow Jones Industrial Average found at page C4 of today's Wall St. Journal is 0.132129493. The trailing P/E is 14.69 down from Monday's 14.79 (year ago it was 16.45); the P/E estimate is 12.79 unchanged from Monday's 12.79 (year ago it was 13.45), and the dividend yield is 2.41 up from Monday's 2.39 (last year it was 2.58). The Dow's all-time high was 14,164.53 on Oct. 9, 2007. The 12 year low close for the Dow was on March 9, 2009 when it fell to 6,547.05.

Tuesday's Dow Jones Industrial Average closing numerator was 1,613.88 up 16.43 from Monday's closing numerator of 1,597.45. This is the sum of all 30 closing prices. A short cut to the Dow numerator is to multiply the closing Dow by the Divisor. Now, if you divide the Dow numerator increase for today by the divisor (0.132129493) you get the increase in today's Dow. A $1 change in the price of any DJIA stock = a 7.57 change in the average.

The average closing price (the closing numerator divided by 30) of Tuesday's Dow Jones Industrial Average was $53.80 up $0.55 from Monday's Dow Jones Industrial Average average closing price of $53.25. The median closing price of Tuesday's Dow Jones Industrial Average was $44.82 (JPM/AXP) up 0.37 from Monday's median closing price of $44.45. The lowest volume was Travelers TRV $59.06 +0.10 0.17% 3,442,616 and the highest volume was again Bank of America BAC $14.69 +0.66 4.7% 250,013,015 NYSE.

If Tuesday morning before the market opened you had purchased 100 shares of each of the Dow Jones Industrial Average 30 shares (assuming you could buy fractional shares and assuming no transaction costs) and sold at the close you would have made $1,643 ($161,388 - $159,750).

MarketWatch Tuesday 3/8/11 5:10 by Jonathan Cheng says Strong bank shares helped the broader stock market higher as Bank of America Corp. raised hopes it will increase dividends and share buybacks. The Dow Jones Industrial Average (DJIA 12,214, +124.43, +1.03%) jumped 124.35 points, or 1.03%, to finish at 12,214.38, while the S&P 500 Index (SPX 1,322, +11.69, +0.89%) added 11.69 points, or 0.89%, to 1,321.82. The Nasdaq Composite Index (COMP 2,766, +20.14, +0.73%) gained 20.14 points, or 0.73%, to 2,765.77. The market’s strong gains pushed the blue-chip index back to just short of where it started the month, recouping most of the previous two days’ losses of 168 points. The gain was the Dow’s third day of triple-digit gains this year. While stocks have been volatile of late, the markets have still been within a well-defined uptrend. But that trend is being tested. Leading the rally Tuesday were financial stocks, including Dow components Bank of America, American Express Co. and J.P. Morgan Chase & Co. B. of A. (BAC 14.67, -0.02, -0.14%) gained 66 cents, or 4.7%, to $14.69 a share; American Express (AXP 45.24, +1.53, +3.50%) added $1.53, or 3.5%, to $45.24, and J.P. Morgan (JPM 46.42, +0.02, +0.04%) rose $1.21, or 2.7%, to $46.40. PNC Financial Services Group (PNC 63.01, -0.36, -0.57%) climbed $2.67, or 4.4%, to $63.37, Citigroup added 12 cents, or 2.7%, to $4.64, Wells Fargo & Co. (WFC 32.50, -0.01, -0.03%) gained 79 cents, or 2.5%, to $32.51 and Goldman Sachs Group Inc. (GS 161.30, +2.15, +1.35%) increased $2.15, or 1.4%, to $161.30. Bank of America’s gains came after Chief Executive Brian Moynihan said he believes the bank has the ability to earn between $35 billion and $40 billion a year in pretax earnings when the business normalizes.
Speaking at the bank’s first investor-day conference since 2007, Moynihan remarked that the bank has no intention of making more acquisitions and will instead look to cut costs and focus on customers. Moynihan also said the bank was focused on returning “every dollar” in capital to shareholders through regular dividends, share buybacks and special cash dividends. “It’s just a prime time to be in banking — with such a steep yield curve, that’s designed to drive profits to banks, allowing banks to borrow cheaply and lend higher,” said Mickey Cargile, managing partner of WNB Private Client Services in Midland, Texas. Investor concerns over regulatory restraints on the banking sector was “overdone.” ‘It’s just a prime time to be in banking. … Banks can make bigger spreads than they normally do.’“There has been quite a bit of attention paid to the bad side of banking without really paying attention to the facts: Banks can make bigger spreads than they normally do,” he added. Not everyone was convinced about banks’ prospects. “In an economy that’s still in a deleveraging mode, I really view the commercial-banking sector as one that essentially has no organic growth prospects,” said Howard Ward, chief investment officer of growth equities at Gamco. “They can take market share from one another, but it’s an industry facing no growth and a lot of regulations that haven’t been sorted out yet.” Weighing on the market was McDonald’s Corp. /(MCD 75.55, +0.01, +0.01%) , off 75 cents, or 1%, at $75.54 after the fast-food chain reported that same-store sales rose by a better-than-expected 3.9% in February, though results in its U.S. restaurants missed Wall Street’s expectations. Energy stocks were also weak, as crude prices fell in volatile trading. Reports that more countries may step in to boost production and that Libya’s Col. Moammar Gadhafi may be looking for a way to step down helped cheer the market, pushing oil to an intraday low of $103.33 a barrel. But as forces loyal to Gadhafi launched a new round of attacks on rebel positions, crude retraced some of its declines. The barrel for April delivery finished at $105.02, off 0.4%. Even so, concerns across the volatile Middle East and North Africa region continued to weigh on investors’ minds. Ward of Gamco said he was worried about a scheduled “day of rage” protest on Friday in Saudi Arabia. “I don’t see how it goes smoothly,” he commented. “Protests there are against the law, and if that happens I don’t see how that does not support higher oil prices.” Ward also was concerned about Libya, warning that even the removal of Gadhafi could leave a fractured country, with different parts of the oil infrastructure split between the separate tribes.The economic calendar was fairly quiet Tuesday, though a survey of small businesses showed more firms are planning to raise their selling prices and increase hiring. Among companies in focus, Urban Outfitters Inc. (URBN 31.58, -0.08, -0.25%) dropped $6.33, or 17%, at $31.66 to make it the worst performer among the S&P 500 companies. The retailer reported fourth-quarter sales and profit that was below market expectations.
Home builder PulteGroup Inc. (PHM 7.10, +0.01, +0.14%) surged 55 cents, or 8.4%, to $7.09 to lead the S&P 500 after it said it signed 2,674 contracts in January and February, up from 2,415 a year earlier. Sprint Nextel Corp. (S 4.69, -0.01, -0.21%) gained 22 cents, or 4.9%, to $4.70 after reports the telecom operator is in talks with Deutsche Telekom AG (DTEGY 14.01, +0.55, +4.09%) over the possible purchase of the German company’s T-Mobile USA cellphone unit. Telecom stocks were generally strong, with AT&T Inc. (T 28.49, +0.04, +0.14%) gaining 55 cents, or 2%, to $28.45 and Verizon Communications Inc. (VZ 36.48, +0.47, +1.31%) adding 47 cents, or 1.3%, to $36.48. Boeing Co. (BA 72.04, +1.16, +1.64%) rose $1.16, or 1.6%, to $72.04 after striking a preliminary deal to sell 38 wide-body jets to Hong Kong Airlines and also signing a deal to supply five 747-8 aircraft to Chinese flag carrier Air China. Convenience-store operator Casey’s General Stores Inc. (CASY 37.71, -2.84, -7.00%) fell $2.84, or 7%, at $37.71. It reported earnings for the latest quarter that fell short of expectations. Dick’s Sporting Goods Inc. (DKS 39.64, -0.30, -0.75%) gained $2.27, or 6%, to $39.94 after fourth-quarter earnings rose 30% as the company opened new stores. Sales at stores open at least a year surged, exceeding analysts’ expectations.
Brown-Forman Corp. (BF.B 70.67, +3.21, +4.76%) added $3.21, or 4.8%, to $70.67 after third-quarter earnings jumped by a better-than-expected 30%, thanks to a strong performance from its whiskey and tequila brands. Brown-Forman, the maker of Jack Daniel’s and Southern Comfort, also reported signs of a rebound in its struggling U.S. market, beating revenue expectations and raising its earnings forecast. Netflix Inc. (NFLX 196.28, +0.83, +0.43%) fell $11.95, or 5.8%, at $195.45 after Warner Bros. said it would begin offering select movies through Facebook Inc. — a move that will enable the social-networking service to compete in the online movie-rental market. Treasurys fell, pushing the yield on the benchmark 10-year note (UST10Y 3.55, +0.03, +0.85%) higher, to 3.542%. Gold (GCJ11 1,429, +2.10, +0.15%) slipped 0.5%, while the dollar climbed against the yen and the euro, which fell 0.4% to $1.3903. European stocks finished slightly higher, with the Stoxx Europe 600 (ST:STOXX600 281.81, +1.09, +0.39%) up 0.4%, while in Asia stocks also closed mostly higher.

Tuesday's Closing Dow Numbers:

AT&T T $28.45 +0.55 1.97% 30,045,347 NYSE
Alcoa AA $16.49 +0.24 1.48% 19,616,729 NYSE
Amex AXP $45.24 +1.53 3.5% 10,713,044 NYSE
Bank of America BAC $14.69 +0.66 4.7% 250,013,015 NYSE
Boeing BA $72.04 +1.16 1.64% 5,656,929 NYSE
Caterpillar CAT $104.13 +2 1.96% 6,149,649 NYSE
Chevron CVX $103.77 +0.76 0.74% 8,914,971 NYSE
CSCO $18.22 +0.02 0.11% 54,935,665 NASDAQ-GS
Coke KO $65.64 +0.42 0.64% 10,361,052 NYSE
DIS $43.2 +0.18 0.42% 6,866,094 NYSE
DuPont DD $54.26 +1 1.88% 5,442,096 NYSE
Exxon XOM $84.6 -0.12 0.14% 17,663,072 NYSE
GE $20.6275 +0.2475 1.21% 50,285,118 NYSE
Hewlett-Packard HPQ $42.4 +0.42 1% 15,674,902 NYSE
Home Dep HD $37.04 +0.17 0.46% 14,253,754 NYSE
Intel INTC $21.13 -0.08 0.38% 57,028,005 NASDAQ-GS
IBM $162.28 +2.35 1.47% 5,385,973 NYSE
JPMorgan JPM $46.4 +1.21 2.68% 32,893,337 NYSE
JNJ $60.71 +0.31 0.51% 8,884,287 NYSE
KFT $31.4475 +0.1175 0.38% 8,473,985 NYSE
McDonald's MCD $75.54 -0.75 0.98% 8,952,652 NYSE
MRK $32.98 +0.15 0.46% 11,552,856 NYSE
MSFT $25.91 +0.19 0.74% 50,546,898 NASDAQ-GS
Pfizer PFE $19.68 +0.07 0.36% 37,699,113 NYSE
Procter & Gamble PG $62.05 +0.34 0.55% 10,953,424 NYSE
MMM $93.75 +1.35 1.46% 3,624,359 NYSE
Travelers TRV $59.06 +0.10 0.17% 3,442,616 NYSE
United Tech UTX $83.26 +0.98 1.19% 3,399,399 NYSE
Verizon VZ $36.48 +0.47 1.31% 14,333,962 DualListed
Walmart WMT $52.44 +0.42 0.81% 11,920,163 NYSE




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The following are excerpts from Tuesday morning's Blog.

A read of the print editions of Tuesday's Wall St. Journal, Financial Times, New York Times, USA Today, Atlanta Journal Constitution & Daily Report (Ga. - carries Bloomberg0 yielded the following stories about Dow Jones Industrial Average 30 component companies and the Dow with stories about the Dow aggregated first and then items about Dow Jones Industrial Average 30 companies presented alphabetically, followed by symbol and Friday's stock prices and related data.

Dow Jones Industrial Average: The Dow Jones Industrial Average closed Monday at 12,2090.03 down 79.85 points or 0.66% from Friday's close of 12,169.88. Of the 30 Dow Jones component companies 4 gained and 26 declined (same as Friday). The biggest gainer dollar-wise and percentage wise was McDonald's MCD $76.29 +0.26 0.34% 7,953,008 NYSE. The biggest decliner dollar-wise was IBM $159.93 -1.90 1.17% 5,309,089 NYSE and percentage-wise was Aloca AA $16.25 -0.325 1.96% 21,350,463 NYSE.

As of the open of the market Tuesday, the current divisor for the Dow Jones Industrial Average found at page C4 of today's Wall St. Journal is 0.132129493. The trailing P/E is 14.69 down from Monday's 14.79 (year ago it was 16.45); the P/E estimate is 12.79 unchanged from Monday's 12.79 (year ago it was 13.45), and the dividend yield is 2.41 up from Monday's 2.39 (last year it was 2.58). The Dow's all-time high was 14,164.53 on Oct. 9, 2007. The 12 year low close for the Dow was on March 9, 2009 when it fell to 6,547.05.

WSJ pC6 "Intel & Boeing drag on industrial average" by Donna Yesalavich, Kristina Peteson says stocks declined as investors continued to fret over the potential impact of rising crude oil prices & more turmoil in Libya, while the tech sector also was hurt by an analyst downgrade. Boeing is charted under Bad news saying a bullish projection from Airbus had Boeing investors jumping ship. Boeing dropped 92 cents. Alcoa is charted under bad news saying it was the worst performer in the Dow. McDonald's is charted under Good News saying it was the biggest Dow gainer.

NYT pB8 "Oil concerns continue to drive shres lower" by Bettina Wassener says stock indexes closed lower on Mon, driven by oil prices & a sovereign debt downgrade.

Fin Times p24 "Starbucks the star performer as equities feel chill from turmoil" by Michael Stothard says Starbucks shares were higher but the wider markets endured another day of losses due to the ever growing turmoil in N. Africa & the Mid East. Fears over the economic recovery hit materials & industrials. Boeing was 1.3% lower.

USA Today p6B "Last week's stock gains evaporate" by Bloomberg ays stocks slid erasing last week's advance as escalating violence in Libya sent oil higher & chipmakers rumbled after Wells Fargo reduced its recommendation on the industry.

Monday's Dow Jones Industrial Average closing numerator was 1,597.45 down 10.55 from Friday's closing numerator of 1,608. This is the sum of all 30 closing prices. A short cut to the Dow numerator is to multiply the closing Dow by the Divisor. Now, if you divide the Dow numerator decrease for today by the divisor (0.132129493) you get the decrease in today's Dow. A $1 change in the price of any DJIA stock = a 7.57 change in the average.

The average closing price (the closing numerator divided by 30) of Monday's Dow Jones Industrial Average was $53.25 down $0.35 from Friday's Dow Jones Industrial Average average closing price of $53.60. The median closing price of Monday's Dow Jones Industrial Average was $44.45 (JPM/AXP) down 0.71 from Friday's median closing price of $45.16. The lowest volume was 3M MMM $92.4 +0.21 0.23% 3,792,165 NYSE and the highest volume was again Bank of America BAC $14.03 -0.09 0.64% 138,683,189 NYSE.

If Monday morning before the market opened you had purchased 100 shares of each of the Dow Jones Industrial Average 30 shares (assuming you could buy fractional shares and assuming no transaction costs) and sold at the close you would have lost $1,055 ($160,800 - $159,750).

MarketWatch Monday 3/7/11 4:27 by Kristina Peterson says U.S. stocks closed lower Monday with an analyst downgrade weighing on the technology sector and concerns over supply disruptions keeping oil prices elevated. The Dow Jones Industrial Average (DJIA 12,090, -80.00, -0.66%) sank 79.85 points, or 0.7%, to finish at 12,090.03. Weighing on the measure, Intel Corp. (INTC 21.21, -0.35, -1.62%) shares shed 1.6% after Wells Fargo & Co. cut its view of the semiconductor sector to “market weight” from “overweight” for the first time in more than two years, though the firm said it was “a more moderate though still optimistic view of the sector.” Oil rallies; stocks fall on tech callKristina Peterson explains why oil prices spiked and stocks fell on an analyst downgrade of the technology sector. Also, Cisco Systems Inc. (CSCO 18.20, -0.20, -1.09%) shares closed 1.1% lower. Boeing Co. (BA 70.86, -0.94, -1.31%) shares slid 1.3% after the company’s rival, European aircraft manufacturer Airbus, said Monday it is confident of maintaining global market share of commercial aircraft sales and expects continued expansion in air traffic demand in the Asia-Pacific region. The Nasdaq Composite Index (COMP 2,746, -39.04, -1.40%) tumbled 1.4% to end at 2,745.63 as technology stocks lagged. The Standard & Poor’s 500 Index (SPX 1,310, -11.02, -0.83%) shed 0.8% to 1,310.13. Within the S&P 500, technology stocks led declines, while utilities stocks clung to slim gains. Among the technology sector’s decliners, JDS Uniphase Corp. (JDSU 25.49, -1.88, -6.87%) dropped 6.9%, Applied Materials Inc. (AMAT 15.99, +0.03, +0.19%) shed 4.6% and Advanced Micro Devices Inc. (AMD 8.85, +0.01, +0.11%) lost 4.2%. The sector was hurt not only by the analyst downgrade but also by concerns over the impact on the sector from rising energy prices. “If you’re paying more for the transportation of your goods, you’re probably going to pay less for the technology that goes into moving your goods,” said John Canally, economist and investment strategist at LPL Financial. Crude-oil prices continued to climb, adding $1.02 to close at $105.44 a barrel on the New York Mercantile Exchange. Concerns remained over supply as opposition forces and soldiers loyal to Libyan leader Col. Moammar Gadhafi clashed near some of the country’s key energy installations. With no end in sight for the conflict, the oil market began to price in a much longer interruption to Libya’s production of 1.6 million barrels a day. “What people are beginning to focus on with oil is the economic weakness that could come from a sustained rise in oil prices,” said Brian Lazorishak, portfolio manager and quantitative analyst at Chase Investment Counsel. “It’s obviously a drag on consumer spending, it can be a drag on economic growth, and everybody feels like, while the economy is showing some good signs of a recovery, it’s kind of a fragile recovery.” Traders are particularly concerned about the situation in Saudi Arabia, where some have called for demonstrations later in the week. Societe Generale said in a research note that oil could reach $200 per barrel if supplies from Saudi Arabia were disrupted. Read more on Saudi Arabia, Libya in Emerging Markets Report. “Saudi Arabia’s a much bigger deal on the price of crude than Libya,” said Russell Croft, co-manager of the Croft Value Fund. In Monday’s deal activity, Western Digital Corp. (WDC 34.70, +0.02, +0.06%) shares rose 16% after the company agreed to acquire Hitachi’s (HIT 64.70, +3.46, +5.65%) hard-disk-drive business for about $4.3 billion in cash and stock, the two companies said Monday. Shares of radiation treatment firm (TOMO 4.57, +0.90, +24.52%) soared 25% after Accuray (ARAY 9.00, -1.01, -10.09%) , the maker of a robotic system designed to treat solid tumors, said it will buy TomoTherapy for $4.80 a share in cash and stock, or a total of around $277 million. Accuray fell 10%. Among other stocks in focus, Ciena Corp. (CIEN 26.00, -2.81, -9.75%) shares fell 10% after the network systems company’s fiscal first-quarter loss widened as a surge in operating expenses masked a bigger-than-expected jump in revenue. Ciena also forecast current-quarter revenue below estimates. The U.S. dollar (USDYEN 82.2900, +0.0400, +0.0486%) weakened against the yen but traded slightly higher against the euro (EURUSD 1.3970, +0.0002, +0.0143%) . The euro was trading recently at $1.3970, down from $1.3990 late Friday in New York. Demand for U.S. Treasurys fell, lifting yields on the 10-year note (UST10Y 3.52, +0.02, +0.63%) up to 3.50%. Gold futures gained, with the April contract (GCJ11 1,431, +2.50, +0.18%) closing at $1,434.50 an ounce. Data on January consumer credit released Monday from the Federal Reserve showed that consumers increased their debt in January, the fourth straight month of gains.

Monday's Closing Dow Numbers:

AT&T T $27.9 -0.0175 0.06% 23,809,225 NYSE: No mentions found.

Aloca AA $16.25 -0.325 1.96% 21,350,463 NYSE: WSJ pC6 "Intel & Boeing drag on industrial average" by Donna Yesalavich, Kristina Peteson says stocks declined as investors continued to fret over the potential impact of rising crude oil prices & more turmoil in Libya, while the tech sector also was hurt by an analyst downgrade. Boeing is charted under Bad news saying a bullish projection from Airbus had Boeing investors jumping ship. Boeing dropped 92 cents. Alcoa is charted under bad news saying it was the worst performer in the Dow. McDonald's is charted under Good News saying it was the biggest Dow gainer.

Amex AXP $43.71 -0.01 0.02% 7,568,233 NYSE: No mentions found.

Bank of America BAC $14.03 -0.09 0.64% 138,683,189 NYSE: 2 stories at WSJ pC3 "UBS loses 3 Execs, 1 to BofA Unit" by Sateve Eder says Stuart Hendel is heading to Merrill Lynch to head its global prime brokerage unit. "BofA prepares to grip & grin" by Shira Ovide says today Bank of America will host its first ivnestor conference since '07 BofA had a loss of $2.2 bil in '10 making its the industry's tortoise. BofA's shares have fallen 16% in the past 12 months while Citigroup, JPMorgan & Wells Fargo all rose.

Boeing BA $70.88 -0.92 1.28% 5,128,265 NYSE: WSJ pB4 "Boeing to rework 787s at new plant" by Peter Sanders says as it pushes toward final certification of the delayed 787 Dreamliner, Boeing opened a facility in San Antonio where 6 of the already buit planes will be refurbished.

Fin Times p16 "Airlines rebound as Indians take to skies" by Amy Kazmin quotes Dinesh Keskar of Boeing India saying Indian aviation will grow 15% a year over the next 5 years.

WSJ pC6 "Intel & Boeing drag on industrial average" by Donna Yesalavich, Kristina Peteson says stocks declined as investors continued to fret over the potential impact of rising crude oil prices & more turmoil in Libya, while the tech sector also was hurt by an analyst downgrade. Boeing is charted under Bad news saying a bullish projection from Airbus had Boeing investors jumping ship. Boeing dropped 92 cents. Alcoa is charted under bad news saying it was the worst performer in the Dow. McDonald's is charted under Good News saying it was the biggest Dow gainer.

Caterpillar CAT $102.13 -0.91 0.88% 5,996,676 NYSE: WSJ pB2 "Caterpillar works ratify contract" by Bob Tita says the Untied Auto Workers Union ratified a new 6 year contract with Caterpilalr covering 9,500 workers in Ill, Col, Pa & Tenn.

WSJ pA17 "Caterpillar's problem with Peoria" is an editorial by William McGurn says Caterpillar is looking outside of its roots in Ill to more right to work states due to the unions.

Chevron CVX $103.01 -0.74 0.71% 8,217,849 NYSE: WSJ pB4 "Injunction issued in Chevron case" by Cahd Bray says a US judge issued a preliminary injunction prohibiting the enforcement of a $8.6 bil judgment vs Chevron over environmental damage in Ecuador.

CSCO $18.2 -0.20 1.09% 70,799,258 NASDAQ-GS: No mentions found.

Coke KO $65.22 +0.01 0.02% 11,803,633 NYSE: No mentions found.

DIS $43.02 -0.53 1.22% 11,749,123 NYSE: No mentions found.

DuPont DD $53.26 -0.61 1.13% 5,829,873 NYSE: No mentions found.

Exxon XOM $84.72 -0.36 0.42% 18,060,500 NYSE: No mentions found.

GE $20.38 +0.01 0.05% 66,447,032 NYSE: No mentions found.

Hewlett-Packard HPQ $41.98 -0.63 1.48% 17,794,817 NYSE: WSJ pC22 "IBM shows H-P how to serve it up" by Rolfe Winkler says HP's services rev fell 2% in 4Q. Rivals IBM & Accenture saw services rev rise 2% & 12% respectively. This shows the different biz models & expose HP's weakness. Tech services are either outsourcing or consulting. Afer buying EDS in '08, HP tends towards low margin outsourcing while after IBM made a better purchase when it bought the consulting biz of PricewaterhouseCoopers in '02.

Home Dep HD $36.87 -0.35 0.94% 8,886,277 NYSE: No mentions found.

Intel INTC $21.21 -0.35 1.62% 57,510,591 NASDAQ-GS: No mentions found.

IBM $159.93 -1.90 1.17% 5,309,089 NYSE: WSJ pC22 "IBM shows H-P how to serve it up" by Rolfe Winkler says HP's services rev fell 2% in 4Q. Rivals IBM & Accenture saw services rev rise 2% & 12% respectively. This shows the different biz models & expose HP's weakness. Tech services are either outsourcing or consulting. Afer buying EDS in '08, HP tends towards low margin outsourcing while after IBM made a better purchase when it bought the consulting biz of PricewaterhouseCoopers in '02.

NYT pB5 "The Galleon Network" lists the individuals involved including an ex-employee from Procter & Gamble and a former IBM employee.

JPMorgan JPM $45.19 -0.33 0.72% 28,113,327 NYSE: 2 stories at WSJ pC3 "UBS loses 3 Execs, 1 to BofA Unit" by Sateve Eder says Stuart Hendel is heading to Merrill Lynch to head its global prime brokerage unit. "BofA prepares to grip & grin" by Shira Ovide says today Bank of America will host its first ivnestor conference since '07 BofA had a loss of $2.2 bil in '10 making its the industry's tortoise. BofA's shares have fallen 16% in the past 12 months while Citigroup, JPMorgan & Wells Fargo all rose.

JNJ $60.4 -0.66 1.08% 9,591,514 NYSE: No mentions found.

KFT $31.33 -0.25 0.79% 12,238,145 NYSE: No mentions found.

McDonald's MCD $76.29 +0.26 0.34% 7,953,008 NYSE: WSJ pB4 "Subway runs past McDonald's chain" by Julie Jargon says Subway as of the end of last year had 33,749 restaurants worldwide, compared with McDonald's 32,737. Subway opened outlets in nontraditional locations such as an automobile showroom, appliance store, ferry terminal, riverboat, Goodwill store, high school & a church.

WSJ pC6 "Intel & Boeing drag on industrial average" by Donna Yesalavich, Kristina Peteson says stocks declined as investors continued to fret over the potential impact of rising crude oil prices & more turmoil in Libya, while the tech sector also was hurt by an analyst downgrade. Boeing is charted under Bad news saying a bullish projection from Airbus had Boeing investors jumping ship. Boeing dropped 92 cents. Alcoa is charted under bad news saying it was the worst performer in the Dow. McDonald's is charted under Good News saying it was the biggest Dow gainer.

MRK $32.83 -0.23 0.7% 38,568,922 NYSE: No mentions found.

MSFT $25.72 -0.2325 0.9% 64,973,532 NASDAQ-GS: No mentions found.

Pfizer PFE $19.61 -0.05 0.25% 45,548,474 NYSE: No mentions found.

Procter & Gamble PG $61.71 -0.32 0.52% 11,302,948 NYSE: NYT pB5 "The Galleon Network" lists the individuals involved including an ex-employee from Procter & Gamble and a former IBM employee.

3M MMM $92.4 +0.21 0.23% 3,792,165 NYSE: No mentions found.

Travelers TRV $58.96 -0.22 0.37% 3,945,056 NYSE: No mentions found.

United Tech UTX $82.28 -0.58 0.7% 3,818,833 NYSE: No mentions found.

Verizon VZ $36.01 -0.07 0.19% 10,084,596 DualListed: No mentions found.

Walmart WMT $52.02 -0.05 0.1% 13,030,671 NYSE: WSJ p22 "Overheard" says Walmart's Green Dot prepaid debit card charges a $3 a month fee even when their balance hits zero.
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Here are the current CEOs of the Dow 30 Companies:

AT&T T Randall L. Stephenson (Dallas, TX)
Alcoa AA Klaus Kleinfeld (NY, NY)
American Express AXP Kenneth I. Chenault (NY, NY)
Bank of America BAC Brian T. Moynihan (Charlotte, N.C.)
Boeing BA W. James McNerney, Jr. (Chicago, Ill)
Caterpillar CAT Douglas Oberhelman (Peoria, Ill.)
Chevron CVX John Watson (San Ramon, CA)
Cisco CSCO John Chambers (San Jose, CA)
Coca Cola KO Muhtar Kent (Atlanta, GA)
Disney DIS Robert Iger (Burbank, CA)
DuPont DD Ellen Kullman (Wilmington, DE)
ExxonMobil XOM Rex W. Tillerson (Irving, Tx)
GE Jeffrey R. Immelt (Fairfield, CT)
Hewlett-Packard HPQ Leo Apotheker (Palo, Alto, CA)
Home Depot HD Frank Blake (Atlanta, GA)
Intel INTC Paul S. Otellini (Santa Clara, CA)
IBM Samuel J. Palmisano (Armonk, NY)
JPMorgan Chase JPM Jamie Dimon (NY, NY)
Johnson & Johnson JNJ William C. Weldon (New Brunswick, NJ)
Kraft KFT Irene Rosenfeld (Northfield, Ill.)
McDonald's MCD Jim Skinner (Oak Brook, Ill)
Merck MRK Kenneth Frazer (Whitehouse Station, N.J.)
Microsoft MSFT Steve Ballmer (Redmond, WA)
Pfizer PFE Ian Read (NY, NY)
Procter & Gamble PG Bob McDonald (Cincinnati, OH)
3M MMM George W. Buckley (St. Paul, MN)
Travelers TRV Jay S. Fishman (NY, NY)
United Technologies UTX Louis Chenevert (Hartford, CT)
Verizon VZ Ivan Seidenberg (NY, NY)
Wal-Mart WMT Mike Duke (Bentonville, ARK)

Here are the Dow Jones Industrial Average 30 ranked in order of market capitalization rounded to the nearest 1/2 billion as of 2/14/11 followed by number of shares outstanding rounded to the nearest 1/2 billion:

1. Exxon Mobil XOM $428 [5]
2. Procter & Gamble PG 258.5 [4]
3. GE 229 [10.5]
4. Microsoft MSFT 233 [8.5]
5. IBM 203 [1]
6. WalMart WMT 195 [3.5]
7. Chevron CVX 195 [2]
8. JPMorgan Chase JPM 182 [4]
9. AT&T T 169 [6]
10. Johnson & Johnson JNJ 166.5 [3]
11. Pfizer PFE 152.5 [8]
12. Bank of America BAC 150 [10]
13. Coke KO 146.5 [2.5]
14. Intel INTC 120.5 [5.5]
15. Verizon VZ 106.5 [3]
16. Hewlett-Packard HPQ 105 [2]
17. Cisco CSCO 104 [5.5]
18. Merck MRK 101 [3]
19. Disney DIS 82 [2]
20. McDonald's MCD 80.5 [1]
21. United Technologies UTX 78.5 [1]
22. 3M MMM 65.5 [.5]
23. Caterpillar CAT 65.5 [.5]
24. Home Depot 61.5 [1.5]
25. American Express AXP 56 [1]
26. Kraft KFT 53 [2]
27. Boeing BA 53 [1]
28. DuPont DD 50 [1]
29. Travelers TRV 27 [.5]
30. Alcoa AA 18 [1]

Here are the latest 8K, 10Q & 10K & Proxy SEC filings as of 2/14/11:

Symbol & Co. Name/Date of Filing/Form Filed/ Comments

AT&T T: 1/27/11 2 8Ks re: 4Q results
1/13/11 8K re: change of accounting for pension
12/21/11 8K re: borrowing up to $8 bil
12/20/11 8K re: purchase of spectrum licenses from Walcomm
12/7/10 8K re: replacement of existing 5 year $9.4 bil revolving credit facility
12/1/10 8K re: redemption of all 7.8% notes due 3/1/11

Alcoa AA: 2/11/11 8K re: resignation of Carlos Ghosen, CEO of Nissan, from Board of Directors
2/3/11 8K re: FD disclosaure re: flat rolled growth opport'ties in Europe
1/25/11 & 1/21/11 8Ks re: contributions to pension plan
1/13/11 8K re: transcript of 4Q earnings call
1/11/11 8K re: 4Q results
12/8 8K Olivier Jarrault named Pres. Alcoa Engineered Products
11/30/11 8K re: pesonnel changes in management

American Express AXP: 1/18/11 8K re: comp to CEO Chanault
1/24/11 & 1/19/11 8K re 4Q results
1/18/11 8K re: write-off statistics for quarter ending 12/31/10
12/16/11 8K re acquisition of Loyalty Partner

Bank of Am BAC: 1/31/11 8K re: compensation of officers
1/21/11 8K re: 4Q & FY 2010 results
1/3/11 8K re: Agreement with Freddie Mac & Fannie Mae to repurchase $3 bil of loan to settle Countrywide dispute

Boeing BA: 2/9/11 10K & 1/26/11 8K re: 12/31/10 results & FY 2011 guidance
1/11/11 8K re: resignation of William M. Daley from Board to be Chief of Staff to Pres. Obama
12/3/10 8K re: election o Ronald A. Williams to Board of Directors and the Audit & Finance Committees
11/16/10 8K re: $2.3 bil 364 day revolving credit agreement

Caterpiller CAT: 1/27/11 8K re 12/10 deale statistics
1/27/11 8K re: results for 4Q and FY ended 2010
1/21/11 8K re: stocholders approval of acquisition of Bu8cyrus Int'l Inc.
1/20/11 8K re: Justice Dept. request for Hart-Scott-Rodino iinfo re: Bucyrus purchase
12/16/10 8K re: Nov. dealer statistics
12/14/10 8K re: changes to By-laws re: holding of Board meetings
12/10/10 8K re: election of Jesse J. Greene, Jr. & Miles D. White to Board of Directors and Greene to the Audit Committee & White to Governance Committee
12/7/10 8K re: entering into bridge loan of up to $8.6 bil
11/18/10 8K re: status of acquisition of Bucyrus
11/18/10 8K 3 month dealer statistics
11/15/10 8K re: acquisition of Bucyrus for $8.6 bil to close mid '11
11/12/10 8K/A resignation of Gail D. Foster from Board of Directors

Chevron CVX: 2/1 8K re: compensation to officers including CEO John Watson
1/28/11 & 1/11/11 8K re 4Q results

Cisco CSCO 2/9/11 8K 2Q results
1/31/11 8K re: agreement re: issuance of $3 bil of commercial paper
12/17/10 8K re: pre-arranged exec stock trading plan

Coke KO 2/9/11 8K re: results for 4Q and FY 2010
12/15/10 8K re: expiration of tender offer for notes
12/15 & 12/9/10 8Ks re: election of Howard G. Buffett to Board of Directors & Public Issue & Diversity Relations Committees
11/23/10 8K re: result of cash tender offer for debt
11/18/10 8K re: completion of note offering
11/16/10 8K re: resignation of Cathleen P. Black from Board to become Chancellor of NYC Schools
11/8/10 8K re: underwriting agreement for issuance of notes
11/4/10 8K re tender offer for CCE debt

Disney DIS 2/8/11 10Q & 2/8/11 8K re: 1Q results
1/28/11 Proxy statement for annual sahreholder meeting to be held 3/23/11 at Salt Lake City, Utah
12/14/10 8K re: issuance of $5 bil of Notes
11/24/10 10K for year ending 10/2/10

DuPont DD: 2/8/11 10K re FY 12/31/10
1/27/11 8K re: compensation for CEO Ellen Kullman
1/25/11 8K re: results for quarter ended 12/31/10
1/12/11 8K re: acquisition of Danish firm, Danisco
12/10 8K re: retirement of Jeffrey L. Keefer as EVP

ExxonMobil XOM: 1/31/11 8K re: 4Q and FY 2010 results
11/30/10 8K re: revisions to officers' compensation plan

GE: 2/14/11 8K re: amendments to bylaws re: calling of special meetings of shareholders
1/31/11 8K re: closing of Comcast deal giving it control of NBC Universal
1/21/11 8K re: 4Q and FY '10 results
12/16/10 8K re: departure of Director Sir William M. Castell

Hewlett-Packard HPQ: 2/1/11 Proxy statement re: 3/23/11 shareholders meeting
1/20/11 8K re: election of 5 new members to Board of Directors
12/15/11 10K re: FY 10/31/10
12/2/10 8K re: underwriting agreement for issuance of notes
11/22/10 8K re: 4Q results
10/18/10 8K re: election of Leo Apotheker as Pres/CEO

Home Depot HD: 1/12/11 8K re: promotion of Aaron Carmack as Pres. of Home Depot Canada
12/2/10 10Q re: results for period ending 10/31/10
11/16/10 8K re: update of fiscal year '10 guidance

Intel INTC: 1/31/11 8K re: 4Q results & 2011 guidance
1/26/11 8K re: amendment to stock option plan
1/24/11 8K re: dividend and shre repurchase program (increase)
1/14/11 & 1/13/11 8Ks re: results of quarter ended 12/25/11 & 2011 guidance
1/10/11 8K re: patent agreement with NVIDIA Corp.
11/12/10 8K re: 15% increase of quarterly cash dividend

IBM: 1/28/11 8K re: compensation to officers including CEO Sam Palmisano
1/27/11 8K re: bylaw amendment re: holding of stockholder meetings
1/19/11 & 1/18/11 8K re: 4Q results and 12/31/10 FY
1/4/11 8K re: amendment of By-laws to decrease directors to 12
12/8/10 8K re: underwriting agreement re: debt
12/6/10 8K re: resignation of Cathleen Black from Board of Directors

JPMorganChase JPM: 1/14/11 2 8Ks re: 4Q results
12/29/10 8K re: results of tender offer for 5.8% securities
12/22/11 8K re: purchase of 25 Bank St in Canary Wharf as London Investment banking headquarters
12/13/10 8K re: termination of Replacement capital Covenants
10/28/10 8K/A re: amendment to replace capital covenants re: debt
10/20/10 & 10/19/10 2 8Ks re: amendment to credit agreements

Johnson & Johnson JNJ : 1/25/11 8K re: 4Q results ending 1/2/11

Kraft KFT: 2/10/11 8K re: 4Q & FY 2010 results
1/31/11 8K re: status of lawsuit with Starbucks
1/24/11 8K re: amendment to articles of incorproation to eliminate Class B common Stock and amendment to bylaws re: shareholder meetings
12/28/10 8K re: expiration & results of tender offer for notes
12/22/10 8K re: adoption of long term exec comp. program
212/13/10 28Ks re: status of tender offerfor notes
12/6/10 8K re: seeking preliminary injunction vs. Starbucks

McDonalds MCD: 2/8/11 8K re: Jan 2011 global sales
2.7/11 8K re: election to the Board of Donald Thompson, Pres. & CEO
1/24/11 8K re: 4Q & FY 2010 results
12/20/10 8K re: departure and settlement re: Denis Hennequin as Pres. of MCD Europe
12/10 8K re: amendment of Cert. of Incorp re: designations of rights of preferred stock
12/9/10 8K re: global sales results
11/9/10 8K re: results of global sales results
11/5/10 8K re: resignation of Denis Hennequin as President of McDonald's Europe to be replaced by Steve Easterbook

Merck MRK: 2/3/11 8K re: 4Q results
12/10/10 8K re: sale of 2.2% notes due '16
11/30/10 8K re: election of Kenneth C. Frazier a CEO with Richard T. Clark staying as Chair

Microsoft MSFT: 2/8/11 8K re: underwriting agreement for $750 mil of 2.5% Notes due 2016
1/27/11 10 & 1/27/11 8K for quarter ended 12/31/10
11/19/10 8K re: results of 11/16/10 Annual Meeting of Shareholders

Pfizer PFE: 2/1/11 8K re: 4Q results & reduction of research & development facilities
12/17/10 8K re: proposed settlement of shareholder derivative lawsuit in US Dist. Ct. SDNY
12/16/10 8K re: election of George A. Lorch as non-Exec Chair
12/9/10 8K re: resignation of Jeffrey B. Kindler as CEO & election of Ian C. Read as Pres/CEO
11/12/10 10Q for quarter ending 10/3/10
11/2/10 8K re: 3Q results
10/22/10 SC TO-T & 10/12/10 8K both re: Pfizer's purchase of King Pharmaceuticals, Inc.

Procter & Gamble PG: 2/11/11 8K re: election of Meg Whitman to Baord of Directors
2/1/11 8K re: retirement of Blboal Health Vice-Chair Robert A. Steele
1/28/11 10Q & 1/27/11 8K re: 2Q results
1/11/11 8K re: quarterly dividend of $0.4818 per share
12/14/10 8K re: election of Susan Desmond-Hellmann, 53, Chancellor of U of Cal. SF to Board
11/18/10 8K re: close of sale of $1 bil of 1.8% notes due '15

3M MMM: 1/25/11 8K re: 4Q results & FY 2011 guidance
12/7/10 8K re: financial outlook for '11
11/5/10 10Q re: quarter ending 9/30/10'
10/28/10 8K re: 3Q results of $6.9 bil sales

Travelers TRV: 1/28/11 8K re: departure of Blythe McGarvie from Board
1/25/11 8K results of 4Q
11/10/10 8K re: completion of tender offer for 6.25% debentures
11/9/10 8K re: modification of rights of holders of 6.75% notes due '36
11/8/10 re: purchase of 43% of a Brazilian surety
11/8/10 8K & 11/5/10 8K re: amendment of consent solicitation of 6.75% notes
11/1/10 8K re: underwriting agreement for sale of notes

United Technologies UTX: 2/10/11 10K for FY 12/31/10
1/26/11 8K re: 4Q results & FY 2011 guidance
12/10/10 8K re: election of Ellen Kullman, DuPont CEO to Board of Directors
12/10/10 8K re: resignation of Carlos M. Gutierrez from Board

Verizon Communications Inc. VZ: 2/3/11 8K re: increase to stock repurchase program
1/27/11 Proxy statement & 8K re: proposed purchase of Terremark to boost cloud capacity
1/27/11 8K re: 2011 guidance
1/25/11 4Q & FY 2010 results
1/21/11 8K re: change of accounting for pension
12/29/10 8K re: updated fin'l info re: divestiture of properties as a result of acquisition of Alltel Corp. in Jan '09
12/8/10 8K/A re: Board committee assignments of Rodney E. Slater
11/10/10 8K/A re: election of Lowell C. McAdam as Pres/COO & Francis J. Shammo EVP & CFO

WalMart WMT: 12/6/10 10Q for period ending 10/31/10
11/16/10 8K re: 3 Qtr EPS 0.95 cents and raising full year EPS guidance from $3.95 to $4.05